Used cars driving in fast lane

The current slowdown has proved to be a blessing in disguise for the used-car industry. Auto sales have been plummeting thanks to the credit crunch and demand slump. However, if there is one segment that has gained from the present scenario, it is the second-hand car market, which has grown by over 30% this year.

Says Maruti Suzuki True Value chief GM (sales & support) Ravi Bhatia: “We have grown by 30% in March-September this year over the same period last year.” Maruti Suzuki’s True Value is the biggest player in the organised second-hand car segment. It sold 1,03,000 used cars last year. Similarly, Honda Siel Cars’ used-car venture, Honda Auto Terrace, has also witnessed a growth of 34% this year. Says Honda Auto Terrace head Sunil Gambhir: “We have seen sales spiral thanks to the slowdown. More
Courtesy: economictimes.indiatimes.com

This entry was posted on Wednesday, November 5th, 2008 at 11:37 pm and is filed under Honda India, Maruti Suzuki. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.